Oireachtas Joint and Select Committees

Wednesday, 24 April 2013

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage

7:20 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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Section 18 sets out convictions and fines for any person who impedes the work of the reviewer. I am not objecting to these provisions but the focus is on the financial institutions or individuals who may be obstructing the reviewer or providing misleading information to an inquiry. What if the reviewer provides misleading information, however? This is a very small country and many of the individuals who will be appointed as reviewers will have experience in or understanding of the financial services sector. I suggest that the Minister might consider an amendment on Report Stage so that a reviewer who provides misleading information would be subject to the same sanctions. There should be additional protection in this regard.